Does anyone know the turn around time for a Texas USDA loan?

My loan was supposed to close on May 30 and it has been at the USDA's office forever! My mortgage broker said he can't get any word on when it will close. They are apparently very backed up.
by bcresw_556_652from Blanco,
Texas. Jun 6th 2012 Reply

With the real estate market heating up all over the county, this delay is expected.. However I doubt it's been at USDA for 30 days.. I would ask your broker when he actually submitted it to them.. Also, if your refinancing through USDA, you can expect longer turn times.. if your purchasing a new home, they will usually get it underwritten within 10 days or so.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

I'm in San Antonio, TX and we were also supposed to close on the 30th. I've been speaking to our lender and on Monday they were working on files that were submitted to the USDA on the 10th May apparently (my lender had called some hotline to get this information). I thought our file was submitted then but turns out our file didn't actually get submitted until the 17th! So hopefully we should hear on Monday. I would contact your lender, find out exactly when it was submitted to the USDA and then it looks like they are taking approx 17 business days to process at present! Hopefully we will both get our new homes very soon!

I will say that my mortgage broker and realtor have been very helpful and they have made this experience not as painful. It is just the wait time. I really dont think it's anything my mortgage broker did, I think it's just that the USDA is so backed up. Thanks everyone for your answers. Much appreciated!

Double check with your lender to see when they actually submitted it to USDA. It shoul come out of USDA in 2-3 weeks, depending on their volume, but the clock starts when the file is received at USDA. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

Here in Abilene, TX, we were "supposed" to close on May 29th at the latest. It's almost July and still no word. This is ridiculous, and there's NOTHING we as citizens can do to get action from this governmental monstrosity called the USDA.